Stifel Financial Corp Buys 35,404 Shares of General Motors (NYSE:GM)

Stifel Financial Corp boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 624,290 shares of the auto manufacturer’s stock after buying an additional 35,404 shares during the quarter. Stifel Financial Corp’s holdings in General Motors were worth $33,256,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of General Motors during the 4th quarter worth approximately $592,321,000. Amundi lifted its position in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new position in shares of General Motors in the fourth quarter worth about $108,366,000. Finally, National Bank of Canada FI increased its stake in General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock worth $178,593,000 after buying an additional 1,180,936 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $45.84 on Thursday. The company has a 50 day simple moving average of $46.92 and a two-hundred day simple moving average of $50.29. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio is presently 7.80%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GM. Piper Sandler upped their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Mizuho reduced their price objective on General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Citigroup assumed coverage on General Motors in a report on Wednesday. They issued a “buy” rating and a $62.00 target price for the company. JPMorgan Chase & Co. cut their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group reduced their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.83.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.